Digital transformation, or DT, is the integration of digital technology into all aspects of a business. This can involve reinventing processes, products and services, as well as leveraging still-emerging technologies to create entirely new business models. Typically, it is led by the chief information officer (CIO) or IT department, though C-suite executives may also be involved.
It is an ongoing effort that can involve many different parts of the organization, but it often starts with a focus on customer experience. Customers today expect to be able to do business whenever, wherever and on whatever device they choose. They plan their day-to-day activities knowing how long it will take to get to work or the gym, and they stop saving receipts and other records because they can quickly access them online. They avoid traditional brick-and-mortar stores and shop online, often with mobile apps that provide personalized recommendations.
Whether they’re shopping for clothes or ordering food, customers see new opportunities and expect their companies to keep up with the latest innovations. If a company doesn’t, its customers will quickly find one that can.
To stay competitive, organizations must continually pursue digital innovation and build it into their business model. This enables them to meet evolving customer expectations, increase flagging sales or even disrupt their industry. It requires a willingness to experiment frequently and to be comfortable with failure. And it can be a daunting undertaking for any organization. That’s why it can be a good idea to tap an external group of experts to craft a strategy that will help your business succeed.